San Diego, CA -- (SBWIRE) -- 11/10/2021 -- The Shareholders Foundation announced that an investor, who purchased shares of ViacomCBS Inc. (NASDAQ: VIAC), filed a lawsuit in the U.S. District Court for the Southern District of New York against Goldman Sachs Group Inc. ("Goldman Sachs") and Morgan Stanley ("Morgan Stanley") over alleged violations of Federal Securities Laws.

Investors who purchased shares of ViacomCBS Inc. (NASDAQ: VIAC) have certain options and for certain investors are short and strict deadlines running. Deadline: December 28, 2021. NASDAQ: VIAC investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

New York based ViacomCBS Inc. operates as a media and entertainment company worldwide.

Both Goldman Sachs and Morgan Stanley are global financial services institutions that served as prime brokers for Archegos Capital Management ("Archegos"), a family office with $10 billion under management, helping Archegos make trades and lending it capital in the form of margin lending.

The plaintiff alleges that Goldman Sachs and Morgan Stanley sold a large amount of ViacomCBS Inc. (NASDAQ: VIAC) shares between March 22, 2021 and March 29, 2021, while in possession of material, non-public information about Archegos and its need to fully liquidate its position in the Company because of margin call pressure and that as a result of these sales, Defendants Goldman Sachs and Morgan Stanley avoided billions in losses combined.

Shares of ViacomCBS Inc. (NASDAQ: VIAC) declined from $100.42 per share on March 22, 2021, to as low as $39.81 per share on March 26, 2021.

Those who purchased shares of ViacomCBS Inc. (NASDAQ: VIAC) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.